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Trigon Metals

Trigon Metals

Building A Mid-Tier African Copper Producer

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2023

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Trigon Provides Update on Spin-Out of Moroccan Assets

26 February 2024 by trigonmetals

Not for Distribution to United States Newswire Services or for Dissemination in the United States

TORONTO — February 26, 2024 — Trigon Metals Inc. (TSX-V: TM) (the “ Company ” or “ Trigon ”) provides an update regarding its previously-announced plans to spin out its wholly-owned subsidiary, Safi Silver Corp. (“ Spinco ”), which holds the Company’s Moroccan assets, namely the Silver Hill and Addana projects, pursuant to a plan of arrangement under section 192 of the Canada Business Corporations Act (the “ Proposed Arrangement ”). The Company is pleased to announce that it has received an interim order from the Ontario Superior Court of Justice (Commercial List) in respect of the Proposed Arrangement and has scheduled its annual general and special meeting of shareholders to be held on April 9, 2024 (the “ Meeting ”). At the Meeting, Trigon shareholders will be asked to approve, among other things, the Proposed Arrangement and the Share Consolidation (as defined below). Spinco Shares (as defined below) shall be listed on a recognized Canadian stock exchange.

Jed Richardson, Chief Executive Officer of the Company, commented: “The proposed spin-out of Trigon’s Moroccan assets will allow Trigon to focus on the Kombat Mine in Namibia while providing shareholders enhanced value through ownership of Safi Silver as a standalone company that is focused on the exploration of the Silver Hill and the Addana projects in Morocco. We believe the spin-out will maximize the long-term value of each business and provides our shareholders with two distinct investment opportunities.”

Pursuant to the Proposed Arrangement and the Share Consolidation, each Trigon shareholder will receive, for each five (5) common shares of Trigon currently held, one (1) new Trigon common shares and 0.5 common shares of Spinco (“ Spinco Shares ”). Following the Proposed Arrangement, Trigon shareholders will retain their percentage ownership of Trigon common shares without dilution and will hold the same percentage ownership of Spinco Shares subject to the issuance of Spinco Shares pursuant to the Spinco Financing (as defined below) and Spinco Shares for Debt Transaction (as defined below). In addition, holders of warrants of the Company will have their warrants adjusted in accordance with their terms as a result of the Proposed Arrangement.

Spinco is expected to be financed pursuant to a concurrent equity financing of Spinco (the “ Spinco Financing ”) that will be completed prior to, and as a condition of, closing of the Proposed Arrangement for minimum gross proceeds of $2 million and maximum gross proceeds of $5 million. Additional details in respect of the Spinco Financing will be provided in a subsequent press release once the terms have been determined in the context of the market.

Completion of the Proposed Arrangement is subject to a number of conditions, including: (a) closing of the Spinco Financing; (b) conditional approval for listing of the Spinco Shares on a recognized Canadian stock exchange; (c) the affirmative vote of two-thirds of Trigon shareholders in attendance of the Meeting; and (d) approval of the TSX Venture Exchange.

Prior to completion of the Proposed Arrangement, it is anticipated that Trigon will consolidate its issued and outstanding common shares (the “ Share Consolidation ”), on the basis of one (1) post-consolidation Trigon common share for each five (5) pre-consolidation Trigon common shares, for the purposes of attracting greater investor interest and increasing institutional investor participation, among other things. The number of Trigon common shares issued and outstanding will be reduced from 204,273,600 (as of the date hereof) to approximately 40,854,720, subject to rounding down of fractional shares. Each Trigon shareholder’s percentage ownership in the Company and proportional voting power in Trigon will remain unchanged, except for minor adjustments resulting from the treatment of fractional shares. The Company’s name will not change. The Share Consolidation is subject to the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the Trigon shareholders at the Meeting.

Concurrently with the Proposed Arrangement, Spinco intends to issue Spinco Shares (at the issue price under the Spinco Financing) in full satisfaction of certain historic debts in the amount of $662,500 related to the acquisition of the Silver Hill Project and the Addana Project (the “ Spinco Shares for Debt Transaction ”).

Additional details in respect of the Proposed Arrangement will be provided in a management information circular to be mailed to Trigon shareholders in the coming weeks in connection with the Meeting.

About Trigon Metals Inc.

Trigon is a publicly-traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine. In Morocco, the Company is the holder of the Silver Hill and Addana projects, highly prospective copper and silver exploration projects.

Cautionary Notes

The securities to be issued pursuant to the Spinco Financing will not be registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”), or any state securities laws and may not be exercised, offered or sold, as applicable, in the United States or to, or for the account or benefit of, a person in the United States or a U.S. Person (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements.

This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities laws. Forward-looking information is often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties, including statements with respect to the Proposed Arrangement and the expected structure thereof; anticipated shareholder, court and regulatory approvals; benefits of the Proposed Arrangement; the listing of Spinco Shares on a stock exchange and timing thereof; terms and completion of the Spinco Financing, financing of Spinco, and terms of the Share Consolidation. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company and, as such, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the availability and continuity of financing, potential delays in obtaining all requisite approvals and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.

Filed Under: 2023, News

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Trigon Metals Inc. Enters Arrangement Agreement to Spin-Out Moroccan Assets

14 February 2024 by trigonmetals

Not for Distribution to United States Newswire Services or for Dissemination in the United States

TORONTO — February 14, 2024 — Trigon Metals Inc. (TSX-V: TM) (the “ Company ” or “ Trigon ”) is pleased to announce that it has entered into an arrangement agreement (the “ Arrangement Agreement ”) with its wholly-owned subsidiary, Safi Silver Corp. (“ Spinco ”), to undertake a spin-out transaction that would reorganize the business and capital structure of the Company to spin out its assets in Morocco, namely the Silver Hill project (the “ Silver Hill Project ”), to the shareholders of Trigon (the “ Trigon Shareholders ”).

The proposed spin-out transaction will be completed by way of a plan of arrangement under section 192 of the Canada Business Corporations Act (the “ Proposed Arrangement ”).

Pursuant to the Proposed Arrangement, it is anticipated that Trigon will distribute to the Trigon Shareholders, on a pro rata basis: (i) all of the outstanding shares in the capital of Spinco (the “ Spinco Common Shares ”), and (ii) new common shares in the capital of Trigon (the “ New Trigon Shares ”), in exchange for the common shares of Trigon held by the Trigon Shareholders (the “ Trigon Shares ”).

The Proposed Arrangement remains conditional on the approval of the Trigon Shareholders at the annual general and special meeting (the “ Meeting ”), the TSX Venture Exchange and the Ontario Superior Court of Justice (Commercial List). Additionally, completion of the Proposed Arrangement is conditional upon, among other things, completion of a concurrent financing of Spinco (the “ Concurrent Financing ”), and conditional approval for listing the Spinco Common Shares on a recognized Canadian stock exchange (the “ Stock Exchange Listing ”).

It is intended that, as part of the Proposed Arrangement, the Trigon Shareholders will receive one New Trigon Share and 0.5 Spinco Common Shares in exchange for each Trigon Share held immediately prior to completion of the Proposed Arrangement.

The Proposed Arrangement will allow Trigon and Spinco to each access the sources of capital best suited for operational stage and exploration stage mining assets, respectively, and to otherwise achieve operational efficiencies.

Additional details of the Proposed Arrangement will be provided in a management information circular that will be mailed to Trigon Shareholders prior to the Meeting. At the Meeting, Trigon Shareholders will be asked to vote on a special resolution approving the Proposed Arrangement, and on other matters.

About Trigon Metals Inc.

Trigon is a publicly-traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine. In Morocco, the Company is the holder of the Silver Hill and Addana projects, highly prospective copper and silver exploration projects.

Cautionary Notes

This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities laws. Forward-looking information is often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties, including statements with respect to the Proposed Arrangement and the expected structure thereof; anticipated shareholder, court and regulatory approvals; benefits of the Proposed Arrangement; the listing of Spinco Common Shares on a stock exchange and timing thereof; anticipated Meeting date; the timing for mailing of an information circular and holding the Meeting; completion of the Concurrent Financing, timing of closing of the Proposed Arrangement and the anticipated benefits of the Proposed Arrangement. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company and, as such, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the availability and continuity of financing, potential delays in obtaining all requisite approvals and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.

For further information:
Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Filed Under: 2023, News

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Trigon Metals Announces First Underground Mining Blast at Kombat

5 February 2024 by trigonmetals

TORONTO — February 5, 2024 — Trigon Metals Inc. (TSX-V: TM, OTCQB: PNZTF) (“Trigon” or the “Company”) is pleased to announce the commencement of operational training for the underground mine at the Kombat project ahead of schedule, marked by the successful blasting of the first block.

The early initiation of the underground operational training underscores Trigon’s commitment to operational excellence and efficient project delivery. The first blast was initiated on Thursday, February 1, 2024 at the Asis West shaft’s No. 1 level.

The first underground blast represents a key step towards unlocking the full potential of the Kombat project and realizing its strategic importance in the copper market. The significant milestone sets the stage for enhanced project economics as the Company enters a new operational phase that is expected to exploit higher copper grades at depth as indicated by the resource statement and resource models which were reconfirmed through surface and underground confirmatory drilling, an important step towards positioning Trigon as a key player in the copper market and facilitating the long-term sustainability and profitability of the Kombat Mine.

Fanie Müller, Vice President of Operations at Trigon Metals, remarked, “Congratulations to our team who managed to achieve this milestone earlier than anticipated after months of detailed design and planning. The focus now is on safely mining the higher-grade ore from the upper levels of the Asis West shaft complex and building on the underground ramp-up profile over the next couple of months.”

Knowledge Katti, Namibian Businessman and local partner of Trigon Metals, commented, “We extend heartfelt congratulations to the entire team for their exceptional efforts in accelerating the commissioning process. This achievement is a testament to the commitment and proficiency of our Namibian personnel. We are confident that this early success sets the stage for a robust operational phase, leading us towards sustained growth and value creation for our shareholders and the community of Kombat.”

Trigon Metals remains focused on advancing its projects responsibly and sustainably, prioritizing environmental stewardship and social engagement throughout the mining lifecycle.

Qualified Person

The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, P.Eng, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the mineralization of the Kombat Mine, the Company’s exploration plans and results thereof, the prospectivity of the Company’s projects, the economic viability of the Kombat Mine, the Company’s ability to restart underground operations and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Filed Under: 2023, News

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Trigon Metals: 15.5m with 5.56% Cu & 81.4 g/t Ag Mineralization Intercepted at Kombat, Namibia

23 January 2024 by trigonmetals

TORONTO — January 23, 2024 — Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon” or the “Company”) announces results from confirmation drilling at the Kombat Mine in Namibia (the “Project”) with key highlights from the drilling campaign. The reported results are from the shallow areas of 1 Shaft (Asis West Shaft) adjacent to the historic Omega Shaft from 100 years ago. The 1 Shaft area still contains high-grade zones of mineralization to be accessed from the underground.

Highlights of the Drill Results

Several confirmation holes near 1 Shaft have been completed. These drill holes were targeting orebodies adjacent to historic workings and close to existing development thus allowing for near-term mining during the ramp-up stage of underground operations. The holes listed below have extended the known mineralization and mineable tonnage in the zone.

K15FLW02: 306° azimuth; -88.7° dip
Intersected 9.0m with 2.59% Cu & 36.7 g/t Ag, from 26m;
Intersected 9.3m with 1.35% Cu & 17.2 g/t Ag, from 49m;

K15FLW03: 92.1° azimuth; -89.1° dip
Intersected 15.5m with 5.56% Cu & 81.4 g/t Ag, from 10m;

K15FLW09: 329° azimuth; -86.4° dip
Intersected 9.8m with 1.01% Cu & 14.4 g/t Ag, from 10.2m;
Intersected 7.0m with 1.44% Cu & 23.4 g/t Ag, from 25m;
Intersected 6.0m with 1.91% Cu & 37.3 g/t Ag, from 43m;

K15FLW11: 82.1° azimuth; -87.2° dip
Intersected 18.0m with 6.15% Cu & 81.8 g/t Ag, from 18m;

Andy Rompel, Trigon’s Vice President of Exploration, commented, “We are pleased with the drilling results at the 1 Shaft area. These findings further demonstrate the high-grade copper and silver potential copper potential within our licences and solidify our confidence in the exploration and development potential of the Kombat project.”

Jed Richardson, Executive Chairman, commented, “Dewatering has progressed well in the past weeks. The water level has been lowered 238m, past the 7th level and beyond our 6th level goal necessary to start underground mining.”

As previously announced, the Company remains on track to initiate underground mining beginning in Calendar Q2 this year. As we prepare for this stage Trigon Metals anticipates increased operational efficiency and enhanced resource extraction following the promising drill results that have showcased the substantial mineralization within the targeted zones.

Figure 1: Map of the K15 Area Showing Hole Locations

The drill holes were positioned specifically to confirm the presence and nature of mineralized zones identified from previous drill campaigns and historic mining records.

Figure 2: Drill Core – Hole K15FLW02

Depiction of visible copper sulfide/oxide mineralization from 26m to 35m. In weathered parts of the core, the copper is predominantly in the form of chalcocite, a copper sulfide, which the mill has proven to be effective in recovering.

Figure 3: Drill Core – K15FLW03

The wet drill core pictured in Figure 3 shows mainly oxide mineralization between 13.76m and 18.39m.

Figure 4: Drill Core – K15FLW09

The drill core pictured in Figure 4 shows bornite and chalcopyrite (sulfide mineralization) within its fractures.

Figure 5: Drill Core – K15FLW11

The wet drill core from K15FLW11 pictured in Figure 5 shows high-grade Cu oxide/sulfide mineralization, with an average of 5.84% Cu over 19m between 17m and 36 m, of which 43.8% is oxide

The assays have been prepared and classified by Trigon Mining (Namibia)(Pty) Ltd in accordance with the reporting guidelines as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) as required by the Canadian Securities Administrators.

Quality Assurance & Quality Control (QA/QC):

All sample assay results have been monitored through the Company’s quality assurance / quality control (QA / QC) program following E2941 − 21 Standard Practices for Extraction of Elements from Ores and Related Metallurgical Materials by 4 acid Digestion with ICPOES finish. Drill core was sent to an independent laboratory, African Laboratory Specialists Namibia (“ALS”), for analysis. ALS is an independent laboratory, located in Kombat, Namibia. Core samples were prepared using the ASTM procedures. Sample size: 3 kg, crushed split to 250g weighed sample (+/- 0.5000g).

Qualified Person

The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, P.Eng, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

Cautionary Notes

This news release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the mineralization of the Kombat Mine, the Company’s exploration plans and results thereof, the prospectivity of the Company’s projects, the economic viability of the Kombat Mine, the Company’s ability to restart underground operations and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release

Contacts

For further information:
Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Filed Under: 2023, News

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Trigon Metals Strengthens Leadership Team and Expands Copper Portfolio with High-Potential Kalahari Copperbelt Project in Namibia

29 November 2023 by trigonmetals

TORONTO — November 29, 2023 — Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) (“Trigon Metals” or the “Company”) is pleased to make the following announcements underscoring the Company’s commitment to growth and advancement for our shareholders: Rennie Morkel has been appointed President and COO of the Company as Jed Richardson transitions to the role as Executive Chairman; and the acquisition of the Kalahari Copperbelt Project.

Trigon Announces Key Leadership Appointments

Trigon has transitioned from development to producer, with a pipeline that could see mill throughput quadruple and metal production increase nine-fold over the next three years with substantial exploration and development potential on the 35km of strike-length around Kombat, the Morocco properties, and the new Namibian Kalahari Copperbelt project. To best support this evolution, Trigon Metals is proud to introduce three distinguished professionals to its executive team. These appointments are pivotal to the next phase of production at the Kombat Mine and align with the Company’s vision of becoming a leading copper producer and explorer in Africa.

Rennie Morkel – President & Chief Operating Officer (COO)

Trigon Metals Inc. welcomes Rennie Morkel, a Namibian Permanent Resident, as the new President and Chief Operating Officer. Rennie, a Chartered Accountant with qualifications from Ernst & Young South Africa, brings 19 years of invaluable experience in the mining sector. His senior positions at major companies, including Endeavour Mining Group, Glencore, China General Nuclear Power Group, Vale, Norilsk Nickel, and African Rainbow Minerals, have given him extensive expertise in uranium, base metals, and precious metals across various project life cycles. Rennie holds an Honors degree in Accounting Science from the University of Pretoria.

Dr. Andreas Rompel – VP Exploration

Trigon Metals Inc. is pleased to welcome Andreas “Andy” Rompel as the new VP Exploration. Andy is a German national with expertise in geology. With over three decades of exploration and production experience, Andy has worked with various commodities, including precious metals, base metals, coking coal, and cobalt. His international experience and proficiency in multiple languages, including German, Afrikaans, and English, make him a valuable addition to the Trigon Metals team.

Grant Sboros – Director

Trigon Metals Inc. is also proud to announce the addition of Grant Sboros as a new director. Holding dual nationalities of Greek and South African, Grant serves as the Chief Executive Officer of Euro Sun Mining Inc. His rich background in finance and mining, including roles as a Deloitte partner in Mozambique and as the Head of Auditing, brings a wealth of experience in both operations and finance in the African mining industry.

Jed Richardson, Executive Chairman of Trigon Metals, commented, “The Board and Management of Trigon Metals are pleased to welcome these exceptional professionals to our team. Their wealth of experience in the mining industry, coupled with their diverse backgrounds, will be instrumental in driving our continued growth.”

Trigon Metals Signs Definitive Agreement to Acquire the High Potential Kalahari Copperbelt Project

In another strategic move to expand its copper portfolio, Trigon Metals has entered into a definitive share exchange agreement to acquire a 100% equity interest in a private arms length company (“Privco”), that holds an option to earn up to a 70% stake in the Kalahari Copperbelt Project (the “Copperbelt Option”).

Kalahari Copperbelt Project

The Kalahari Copperbelt Project encompasses a substantial land package in Namibia with primary Exclusive Prospecting Licences (EPLs) covering 280km along the strike of the Kalahari Copper Belt, which is known for hosting world-class Cu-Ag deposits. Trigon Metals’ licence spans a massive 963,163 hectares and is bounded to the northeast by Sandfire Resources and to the southwest by Rio Tinto. Namibia is an attractive jurisdiction for mining, characterized by a stable and effective government, a reliable judicial system, good infrastructure, and a favourable investment environment.

The presence of ore-grade results from drill holes, located about 8km from the northeast boundary of the project at the Fiesta Fortuna prospect, reveals 83m at 0.7% Cu and 17 g/t Ag (including 8m at 2.5% Cu and 78g/t Ag). Mineralization typically extends for tens of kilometres along the strike, and the existence of old ore-bearing drill holes suggests the potential to find extensions within the licence area. The controls on mineralization are well understood from various other deposits along the belt.

Due to sand cover, this segment of the belt had not undergone significant prior exploration. However, geophysics, mainly TEM and magnetics, are effective at defining prospective structures beneath the sand cover. Existing geophysical data suggests the presence of legitimate targets (domes), based on knowledge gleaned from other ore bodies along the belt.

Transaction Details

Pursuant to the terms of the Definitive Agreement, Trigon Metals will acquire a 100% equity interest in Privco, which holds the Copperbelt Option. The Copperbelt Option provides the right to attain up to 70% interest in Copperbelt Exploration (Pty) Ltd. (“Copperbelt”). The licenses that make up the Kalahari Copperbelt Project are currently in the process of being transferred to Copperbelt, a key condition for the closing of the transaction. Additionally, as part of the agreement, Privco will acquire a 25% equity interest in Copperbelt as follows:

  1. payment US$60,000 to the counterparty on closing; and
  2. US$1.0m in exploration funding over the 24-month period following closing, provided that if the full amount is not funded during such period the Company shall be required to relinquish its 25% interest back to the counterparty.

In exchange for the acquisition, Trigon Metals will issue 13.6 million common shares to the shareholder of Privco. It’s important to note that the transaction is considered an arm’s length transaction under the policies of the TSX Venture Exchange (TSXV) and qualifies as an “Expedited Acquisition” under TSXV Policy 5.3. The transaction is subject to customary closing conditions, including the completion of the License Transfer and TSXV approval. No finder fees are being paid in connection with the transaction.

Qualified Person

The technical information presented in this press release has been reviewed and approved by Jed Diner, M.Sc, P.Geo, who is a Qualified Person as defined by NI 43-101.

Trigon Metals continues to focus on strategic acquisitions, strengthening its leadership team, and expanding its copper portfolio. These developments mark an exciting chapter in the company’s journey to becoming a leading copper producer and explorer in Africa.

Cautionary Notes:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements. These statements include statements regarding the appointments of new executives, the acquisition of the Kalahari Copperbelt Project, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

For further information or inquiries:

Jed Richardson
President and CEO
Trigon Metals Inc.
Phone: +1 647 276 0002
Email: jed.richardson@trigonmetals.com
Website: www.trigonmetals.com

Filed Under: 2023, News

Trigon Metals Inc. Announces Participation in 121 Mining Investment Conference in London

14 November 2023 by trigonmetals

Toronto, Ontario — Trigon Metals Inc. (TSXV: TM) (FSE: TZU2) is pleased to announce the company is participating in the upcoming 121 Mining Investment Conference in London. Jed Richardson, President & CEO of Trigon Metals Inc. will be presenting about the Company’s recent and future planned activities.

121 Mining Investment London will be hosting over 175 mining companies and more than 500 sophisticated investors for two days of pre-arranged, targeted 1-2-1 meetings.

Alongside the curated schedule of pre-booked meetings matching investors with appropriate projects, the conference programme will provide expert commentary and the latest market intelligence on key industry developments.

This year’s event is being held on November 20-21.

Any investors who would like to attend 121 Mining Investment London can register for a free pass here: https://hubs.la/Q026gbp80

About 121 Mining Investment

The 121 Mining Investment global event series connects portfolio managers and analysts from institutional funds, private equity groups and family offices with mining company management teams for 1-2-1, private in-person meetings.

121 Mining Investment has an ever-expanding global portfolio, currently covering London, New York, Cape Town, Las Vegas, Frankfurt, Sydney, Singapore and Hong Kong, as well as online editions throughout the year.

About Trigon Metals Inc.

“The Company has achieved commercial production. We’ve had a successful and profitable first month of operations and we are excited to talk to investors about it in London next week,” commented Trigon President & CEO, Jed Richardson.Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

For additional Information, please contact:

Trigon Metals Inc.
Jed Richardson
President and CEO
6472766002
jed.richardson@trigonmetals.com
www.trigonmetals.com

Filed Under: 2023, News

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